United States biggest arms seller, sold $40 billion in arms, says report

The US ranked first in global weapons sales in 2015, selling around $40 billion worth armaments or half of all agreements in the worldwide arms bazaar and more than double of nearest rival France, according to a new congressional study.

PTI December 27, 2016 16:43:23 IST
United States biggest arms seller, sold $40 billion in arms, says report

Washington: The US ranked first in global weapons sales in 2015, selling around $40 billion worth armaments or half of all agreements in the worldwide arms bazaar and more than double of nearest rival France, according to a new congressional study.

Developing nations, including Pakistan, continued to be the largest buyers of arms in 2015, with Qatar signing deals for more than $17 billion in weapons last year, followed by Egypt, which agreed to buy almost $12 billion in arms, and Saudi Arabia, with over $8 billion in weapons purchases.

United States biggest arms seller sold 40 billion in arms says report

Representational image. Reuters

The report titled "Conventional Arms Transfers to Developing Nations, 2008-2015" and prepared by the nonpartisan Congressional Research Service, a division of the Library of Congress, was delivered to legislators last week. The annual review is considered the most comprehensive assessment of global arms sales available in an unclassified form.

The US and France increased their overseas weapons sales in 2015, as purchases of American weapons grew by around $4 billion and France's deals increased by well over $9 billion. The US, however, remained far ahead of France in terms of global weapon sales, more than double of the latter's $15 billion.

Although global tensions and terror threats have shown few signs of diminishing, the total size of the global arms trade dropped to around $80 billion in 2015 from the 2014 total of $89 billion, The New York Times reported, citing the study.

Developing nations bought $65 billion in weapons in 2015, substantially lower than the previous year's total of $79 billion, it said.

Catherine A Theohary, a national security policy specialist at the Congressional Research Service and author of the study, said constraints on the expansion of foreign weapons sales are "due, in part, to the weakened state of the global economy".

"Concerns over their domestic budget problems have led many purchasing nations to defer or limit the purchase of new major weapon systems," she added. "Some nations have chosen to limit their purchasing to upgrades of existing systems and to training and support services."

Russia, another dominant power in the global arms market, saw a modest decline in orders for its weapons, dropping to $11.1 billion in sales from the $11.2 billion total in 2014. Latin American nations, in particular Venezuela, have become a focus of marketing for Russian arms, the study found.

China reached $6 billion in weapons sales, up from its 2014 total of over $3 billion.

Updated Date:

Subscribe to Moneycontrol Pro at ₹499 for the first year. Use code PRO499. Limited period offer. *T&C apply

also read

UN Security Council to debate impacts of global warming on world peace this week
World

UN Security Council to debate impacts of global warming on world peace this week

The Biden administration's arrival may change the Security Council's dynamics on key issues, according to diplomats.

COVID-19 vaccine: The journey from a global necessity to a political tool
World

COVID-19 vaccine: The journey from a global necessity to a political tool

The vaccines have been a battle for global influence between China and Russia, with Russia being held back due to its limited production capacity.

China proposes to 'improve' Hong Kong's electoral system, to ensure 'patriots' in charge
World

China proposes to 'improve' Hong Kong's electoral system, to ensure 'patriots' in charge

Chinese officials have also increasingly insisted that only those who prove themselves sufficiently loyal to Beijing and the ruling Communist Party may hold office